Trust Co. of Vermont Reduces Stake in Deere & Company

Trust Co. of Vermont has reduced its investment in Deere & Company (NYSE:DE) by 12.4% during the fourth quarter. This information comes from the fund's recent 13F filing with the Securities & Exchange Commission. After selling 2,619 shares, Trust Co. of Vermont now holds 18,483 shares of the industrial products company. According to their filing, these shares are valued at approximately $7,831,000.

In addition to Trust Co. of Vermont, several other institutional investors have also adjusted their positions in Deere. Mattern Wealth Management LLC has increased its holdings in the company by 1.3% during the third quarter, now owning 1,884 shares worth $786,000 after acquiring 25 more shares. Similarly, Carret Asset Management LLC raised its stake by 0.3%, holding 8,148 shares valued at $3,401,000 after an additional purchase of 25 shares. Round Rock Advisors LLC has also grown its position by 2.0%, now owning 1,252 shares worth $522,000 following another purchase of 25 shares. Douglas Lane & Associates LLC increased its stake by 4.7% in the fourth quarter, gaining 557 shares worth $236,000 after buying 25 more. Lastly, Centaurus Financial Inc. raised its holdings by 2.3% during the second quarter, now holding 1,160 shares valued at $433,000 after acquiring 26 additional shares. Institutional investors and hedge funds collectively own 68.58% of the stock.

Performance of Deere & Company Stock

On Friday, shares of Deere & Company traded up by $17.46, reaching a price of $456.57. During the trading day, 2,315,484 shares changed hands, significantly higher than the average volume of 906,286. The company has a market capitalization of $124 billion, with a price-to-earnings (P/E) ratio of 17.83 and a beta of 0.98. Deere & Company has experienced a low of $340.20 and a high of $469.39 over the past year. The stock's fifty-day moving average stands at $430.22, while its two-hundred-day moving average is $401.33. Financial ratios indicate a quick ratio of 1.90, a current ratio of 2.09, and a debt-to-equity ratio of 1.89.

Dividend Increase from Deere & Company

Deere & Company has announced an increase in its quarterly dividend, set to be paid on Monday, February 10th. Shareholders on record as of Tuesday, December 31st, will receive a dividend of $1.62. This marks an increase from the previous quarterly dividend of $1.47, leading to an annualized dividend of $6.48 and a dividend yield of 1.42%. The company's payout ratio is reported at 25.31%.

Analyst Ratings and Price Targets

Recent analyst reports have impacted the perception of Deere & Company’s stock. Citigroup has lowered its target price from $470.00 to $430.00 while maintaining a "neutral" rating. In contrast, Truist Financial has increased its target price from $538.00 to $550.00 and assigned a "buy" rating. Additionally, Morgan Stanley raised its target from $401.00 to $450.00 with an “overweight” rating. Oppenheimer raised their target to $477.00, maintaining an “outperform” rating. Barclays also adjusted its target from $400.00 to $475.00 with an “overweight” recommendation. Presently, eleven analysts rate the stock as a hold, while nine recommend a buy. According to data from MarketBeat.com, Deere & Company has a consensus rating of "Hold" and a target price of $442.83.

About Deere & Company

Deere & Company engages in manufacturing and distributing equipment utilized in agriculture, construction, forestry, and turf care. Its operations are divided into various segments, including Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment primarily focuses on distributing and manufacturing a comprehensive line of agricultural and turf equipment along with related service parts.

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